Xiaomi announces it completed raising US$1.1 billion in latest funding

Image may be NSFW.
Clik here to view.

Xiaomi today officially announced that it has completed raising US$1.1 billion in the latest funding.

This values the company at US$45 billion.

According to an IDC report, the Chinese smartphone maker became the third largest smartphone maker in the world as its Q3 2014 sales hit 17.3 million units.

Xiaomi also announced that it will launch a new flagship smartphone in January 2015.

Xiaomi co-founder and President Lin Bin, said

We just completed the latest round of funding last week, raising US$1.1 billion at valuation of US$45 billion. Investors include All-Stars Investment, DST, GIC, Hopu Fund and Yunfeng Capital among others.

This is an affirmation of Xiaomi’s stellar results in four years, and heralds a new phase for the company.

We will strive to continue bringing innovation to everyone, with a goal of producing high-quality, high-performance devices with great user experience. In January 2015, we will be unveiling our next flagship device. Big thanks to all Mi fans, business partners and investors for your strong support.

You need to login or register to bookmark/favorite this content.